Bitcoin Primed for Growth Ahead of 2024 Halving Fueled by Institutions, Innovations, and Expanding Ecosystem
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Recent inflows into Bitcoin ETFs have fueled increased institutional demand and price growth heading into the 2024 halving event.
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The emergence of Bitcoin Ordinals has boosted miners' revenues from transaction fees, incentivizing them ahead of reduced block rewards.
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On-chain activity surged in February 2024, indicating expanded developer activity and a strengthening ecosystem.
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Previous halvings have coincided with external events like economic crises and innovations like ICOs that impacted Bitcoin's price.
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Factors like institutional demand, miner incentives, and on-chain growth suggest Bitcoin will continue gaining value long-term.